Thurman Arnold Building Trades for $505M

MetLife and a Norwegian pension fund manager have teamed up to pay roughly $505 million for the Thurman Arnold Building about a block away from Metro Center, according to sources familiar with the deal, marking the first major commercial real estate sale of 2014. It also may be a sign that foreign investors are still willing to put money into D.C.'s office market Met Life and Norges Bank Investment Management bought the 12-story building at 555 12th St. NW from Manulife Financial Corp., which retained…